Microsoft CEO announces 10,000 job cuts; Read his full letter, how company will help affected employees
Microsoft has officially confirmed layoffs. The tech company said it is cutting 10,000 jobs, which is almost around 5 per cent of its total workforce. The tech giant hasn't confirmed the number of employees impacted by layoffs in India.
FollowMicrosoft has officially confirmed layoffs. The IT business announced employment cuts of 10,000, or about 5%, of its whole staff. As a consequence of "changing client demands and macroeconomic realities," the corporation is laying off thousands of workers. The number of employees affected by layoffs in India hasn't been confirmed by the IT giant.
Announcing the layoffs, CEO of Microsoft Satya Nadella wrote in an email to employees that "less than 5 percent of our total employee base, with some notifications happening today." Microsoft stated in a recent regulatory filing that it had already informed staff of the layoffs. Before Microsoft, major tech firms like Amazon, Twitter, Meta, and many more had recently let a sizable portion of their workers go.
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In the same email to staff, Nadella stated, "While we are cutting positions in some areas, we will continue to hire in essential strategic areas."
In the email, the CEO of Microsoft stated that the business will provide all workers who are impacted with help. "We promise to treat everyone with respect and decency and to do our business openly. Although unpleasant, some choices must be made. They are particularly challenging since they affect others, including our friends and coworkers, and their lives. During these transitions, we are dedicated to providing all people whose responsibilities are terminated with our full assistance," he wrote.
In addition, according to Nadella, impacted workers will be given a number of benefits, such as "above-market severance pay, continuing healthcare coverage for six months, continued stock award vesting for six months, career transition services, and 60 days' notice prior to termination, regardless of whether such notice is legally required."
In addition to announcing layoffs, Nadella stated that Microsoft "will continue to invest in strategic areas for our future," which means that the company is "allocating both our capital and talent to areas of secular growth and long-term competitiveness for the company" while "divesting in other areas."
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